- Marble Financial (MRBL) has joined the Financial Data and Technology Association (FDATA)
- The FDATA provides its members with a seat at the industry negotiation table for working and advisory group discussions regarding Open Banking
- Since 2016, Marble, and its identity and bank verification subsidiary Inverite, has leveraged customer-owned data for data science initiatives
- Open Banking is well underway in Canada with 3.5 to 4 million consumers sharing their financial data with third-party financial service providers
- The Financial Data and Technology Association is a not-for-profit representing FinTech’s operating in Open Banking and Open Finance
- Marble Financial Inc. (MRBL) opened trading at C$0.175 per share
Marble Financial (MRBL) has joined the Financial Data and Technology Association (FDATA).
The FDATA provides its members with a seat at the industry negotiation table on several policy working groups, expert advisory groups, and task-forces related to Open Banking.
Since 2016, Marble, and its identity and bank verification subsidiary Inverite, has leveraged customer-owned data for data science initiatives that are strictly for the benefit of members through products and services that empower everyday Canadians that are excluded from major financial institutions.
With credit and banking data for almost one million consumers, Marble and Inverite ensure industry-leading, up-to-date consent protocols that are user-friendly, secure, and flexible, giving members complete access and control to their credit and banking data. Through this extensive state-of-the-art security program and SOC 2 Type 1 standards, the Marble and Inverite technology solution are incredibly robust. By joining FDATA it empowers Marble to continue to uphold and improve these industry-leading standards through forwarding intelligence on crucial policy matters, changes, and trends.
Open Banking is well underway in Canada with the government’s Open Banking Review Report, with 3.5 to 4 million consumers already sharing their financial data with third-party financial service providers. As open banking initiatives continue to gain traction, innovative financial technology like Marble and Inverite are well-positioned to deliver personalized products, apps, and services based on consumer-permissioned data.
In leading the campaign for Open Banking, FDATA advocates for the end consumer’s ability to select their service provider. In doing so, FDATA advocates on behalf of Marble and Inverite as they work with the government, policymakers, and regulators to implement best practices to promote healthy competition.
Marble and Inverite are committed to improving the speed, security, and scale of service. From technical standardization to access to data to fair processes that encourage innovation and customer choice, FDATA is committed to promoting customer-centric regulation built on honest and ethical Open Finance for both consumers and those organizations delivering financial services.
“Now more than ever, Canadians can benefit from innovation in financial technology to improve their personal finances,” says Lloyd Evetts, Inverite Director of Business Development.
“An open, transparent, consumer-directed finance framework is the best way to achieve that goal, and we are excited to work together with FDATA and policymakers to establish open banking regulations that allow everyone to participate and innovate in a healthy, competitive, financial marketplace.”
“Supporting and actively taking part in implementing a secure open finance and banking infrastructure in Canada is a necessary step to empowering consumers to achieve smart financial goals,” says Karim Nanji, Marble CEO.
“It’s time for Canada to collectively move away from the archaic reliance on void cheques and banks statements and modernize on AI and data-driven services like MyMarble and Inverite to improve the customer experience when it comes to financial services. Open Banking will enhance and improve these consumer experiences not at Marble but across the whole financial industry, and we’re extremely excited to join FDATA and be a part of the future transformation.”
“We are making incredible strides toward a customer-directed finance system in Canada and are excited to have Marble Financial join our community,” said FDATA North America Executive Director Steve Boms.
“Coming out of this pandemic, it’s necessary that individuals, families, and small businesses have the ability to access and leverage their own financial data for their own benefit. Policymakers must make it easier for consumers to find and determine the best products and services to fit their goals. Implementing an open banking regime in Canada will help Marble meet its mission to empower Canadians and optimize their credit wellness.”
The Financial Data and Technology Association is a not-for-profit representing FinTech’s operating in Open Banking and Open Finance. The company works with the government, policymakers, and regulators to implement a fair and ethical competitive landscape that promotes competition, innovation, and better consumer outcomes.
Marbles’ proprietary MyMarble platform utilizes the power of machine learning, data science, and artificial intelligence, in leveraging its technology solutions, Marble is proud to have empowered thousands of marginalized consumers to a positive financial future.
Marble Financial Inc. (MRBL) opened trading at C$0.175 per share.
